"We were able to provide Logic PD with a comprehensive lending solution within the time frame they requested.” says Michael Sharkey, President of MB Business Capital.
Chicago, IL (PRWEB) August 29, 2017
MB Business Capital, a division of MB Financial Bank, N.A., announced it recently provided a new $9,000,000 senior credit facility to Eden Prairie, Minnesota-based Logic PD, Inc. Logic PD is an Electronics Manufacturing Services (EMS) and Product Development solutions company for the connected digital world. MB Business Capital’s credit facility will be used to fund Logic PD’s working capital needs. The new facility will allow Logic PD to continue investing in its facilities and core capabilities. Logic PD’s focus on modernizing its manufacturing capabilities and standing up its low-cost manufacturing option in Mexico are key strategic efforts to driving revenue and growth for the company.
Logic PD is a portfolio company of Denver, Colorado-based CHB Capital Partners (“CHB”). CHB makes minority and majority investments in three types of transactions—leveraged recapitalizations, management-led buyouts and growth equity investments—across manufacturing, consumer branded, business service and technology sectors.
“We welcome Logic PD and CHB to MB. The MB Business Capital team works diligently to exceed our customer’s expectations and offer top-notch solutions to our customers. We were able to provide Logic PD with a comprehensive lending solution within the time frame they requested.” says Michael Sharkey, President of MB Business Capital.
“Logic PD is focused on building a strong foundation for continued growth. Our relationship with MB will allow us to continue making the investments in our operations that are so vital to serving our customers and establishing Logic PD as an industry-leading brand,” said Bruce DeWitt, Logic PD President and CEO.
About MB Business Capital
MB Business Capital is the asset based lending division of MB Financial Bank, a commercial bank headquartered in Chicago, Illinois. MB Business Capital seeks asset based lending opportunities in the $5 million to $35 million range and is offering dedicated syndication opportunities of up to $100 million. The firm can also provide access to the full range of business banking products and services offered by MB Financial Bank.
About MB Financial, Inc. (NASDAQ: MBFI)
MB Financial Inc. is the Chicago-based holding company for MB Financial Bank, which has approximately $19 billion in assets and a more than one hundred year history of building deep and lasting relationships with middle-market companies and individuals. MB offers a full range of powerful financial solutions and the expertise and experience of bankers who are focused on their clients’ success. Learn more about MB Financial, Inc. at http://www.mbfinancial.com